Money - Revision history

imported>Administrator: 102 revisions imported

2023-06-22T13:03:03Z

102 revisions imported

← Older revision	Revision as of 13:03, 22 June 2023
(No difference)

imported>Administrator: 1 revision imported

2023-06-19T02:45:03Z

1 revision imported

← Older revision	Revision as of 02:45, 19 June 2023
(No difference)

1d4chan>A Walrus: /* A Brief History of Money */

2023-05-28T16:17:24Z

A Brief History of Money

← Older revision		Revision as of 16:17, 28 May 2023
Line 9:		Line 9:

	Gold and silver in particular were attractive as they could both be worked easily, did not rust (in the conventional sense anyway), and appeared to exist in a fixed ratio to each other (17.5 silver to 1 gold on Earth, close-ish to the theoretical ratio from stellar sources). This made them good to use as a token that could be universally exchanged, but gold and silver are still heavy to lug around for transactions, while being all too easy to carry away by robbers.		Gold and silver in particular were attractive as they could both be worked easily, did not rust (in the conventional sense anyway), and appeared to exist in a fixed ratio to each other (17.5 silver to 1 gold on Earth, close-ish to the theoretical ratio from stellar sources). This made them good to use as a token that could be universally exchanged, but gold and silver are still heavy to lug around for transactions, while being all too easy to carry away by robbers.

			Up until 1971, Money in England the was laid out as such...
			*Two farthings was worth a halfpenny (aka a Ha'penny).
			*Two halfpennies was worth a penny.
			*Two pennies was worth a tuppence.
			*Three tuppence was worth a sixpence.
			*Two sixpence was shilling (aka a Bob)
			*Twenty shillings was a pound.

	So what people settled on was trading their stuff for precious metals, and then storing those precious metals in a bank and trading notes around that represented precious metals. Of course, this had some teething problems, the earliest banks (and some recent ones) weren't very trustworthy. Eventually governments moved away from that as pinning currency values to metals (or even valuable mineral commodities like energy resources) was limiting to the money supply, and so they removed that connection and that's where we stand today. As a result, most currencies are based on national government promises to fulfill monetary bonds (aka IOU bills) in the hypothetical event some stockholders or retirement pensioners wants to cash out (though several at a time in a similar manner to players cashing out poker chips in the casino) as well as the "relative" strength of the target economy where stronger bills are useful for investments, imports, or savings while weaker bills are useful for buying raw materials, exports, or paying for cheap labor.		So what people settled on was trading their stuff for precious metals, and then storing those precious metals in a bank and trading notes around that represented precious metals. Of course, this had some teething problems, the earliest banks (and some recent ones) weren't very trustworthy. Eventually governments moved away from that as pinning currency values to metals (or even valuable mineral commodities like energy resources) was limiting to the money supply, and so they removed that connection and that's where we stand today. As a result, most currencies are based on national government promises to fulfill monetary bonds (aka IOU bills) in the hypothetical event some stockholders or retirement pensioners wants to cash out (though several at a time in a similar manner to players cashing out poker chips in the casino) as well as the "relative" strength of the target economy where stronger bills are useful for investments, imports, or savings while weaker bills are useful for buying raw materials, exports, or paying for cheap labor.

2600:1010:A132:3B1C:D063:E41C:C302:E700: /* Money in (relatively) Modern Settings */

2023-05-19T04:59:00Z

Money in (relatively) Modern Settings

← Older revision		Revision as of 04:59, 19 May 2023
Line 59:		Line 59:

	===Money in (relatively) Modern Settings===		===Money in (relatively) Modern Settings===
	While barter is typically associated with extremely primitive societies, it has seen use far beyond what people realize. In the Thirteen Colonies, hard currency was in short supply due to limited minting and a tendency to leave across the ~~pacific~~ and not come back. Heavy regulation on producing currency (one of the many, many causes of the Revolution) forced the colonists used barter, trade goods, "I owe you"s, and foreign coins of subjective exchange rates for trade and wages, a system that was reinforced by barter with Indians. Barter in the colonies was so developed that Matthew Patten's diary (a major primary source for the period) was largely spent keeping track of what he owes people and what people owed him.		While barter is typically associated with extremely primitive societies, it has seen use far beyond what people realize. In the Thirteen Colonies, hard currency was in short supply due to limited minting and a tendency to leave across the Atlantic and not come back. Heavy regulation on producing currency (one of the many, many causes of the Revolution) forced the colonists used barter, trade goods, "I owe you"s, and foreign coins of subjective exchange rates for trade and wages, a system that was reinforced by barter with Indians. Barter in the colonies was so developed that Matthew Patten's diary (a major primary source for the period) was largely spent keeping track of what he owes people and what people owed him.

	===Money in Even More Modern Settings===		===Money in Even More Modern Settings===

1d4chan>A Walrus: /* Money in Battletech */

2023-01-17T16:41:30Z

Money in Battletech

← Older revision		Revision as of 16:41, 17 January 2023
Line 55:		Line 55:
	In [[Star Wars]] the Republic Credit was the standard currency Galaxy wide, backed by the InterGalactic Banking Clan. Credits primarily exist electronically but also exist as untraceable, secure chips with a number of credits on them and (very rarely) metal coins. The Credit weakened toward the end of the Republic and many alternate local currencies popped up, most notable the Hutt Peggat, which was coined in gold and held a value at 40 times the credit and came to dominate Outer Rim transactions. When the Clone Wars broke out the Credit hit its lowest point as the Confederacy began printing currency that was broadly accepted, but this Confederate Credit died with its printer. The Empire replaced the Republic Credit with the Imperial Credit and ended the decades of low faith in the Credit. The Alliance to Restore the Republic issued its own credit, but it held little (if any value) for outside transactions and they primarily used the Imperial Credit till they became the New Republic. The ensuing Balkanizing of the Galaxy as the New Republic began to officially control worlds and the remaining Imperials broke into a maze of factions created another mess of currencies. Since no two governments considered the other legitimate, traders had to rely on commodities to make transactions. This lasted till the Pellaeon–Gavrisom Treaty brought peace between the New Republic and Imperial Remnant. In the times before the Republic went full retard in the Ruusan Reformation 1000 years before the Battle of Yavin, the system is pretty much the same as writers don't want to bother with numismatics. After the Pellaeon-Gavrisom Treaty the same policy is taken for the sake of convenience.		In [[Star Wars]] the Republic Credit was the standard currency Galaxy wide, backed by the InterGalactic Banking Clan. Credits primarily exist electronically but also exist as untraceable, secure chips with a number of credits on them and (very rarely) metal coins. The Credit weakened toward the end of the Republic and many alternate local currencies popped up, most notable the Hutt Peggat, which was coined in gold and held a value at 40 times the credit and came to dominate Outer Rim transactions. When the Clone Wars broke out the Credit hit its lowest point as the Confederacy began printing currency that was broadly accepted, but this Confederate Credit died with its printer. The Empire replaced the Republic Credit with the Imperial Credit and ended the decades of low faith in the Credit. The Alliance to Restore the Republic issued its own credit, but it held little (if any value) for outside transactions and they primarily used the Imperial Credit till they became the New Republic. The ensuing Balkanizing of the Galaxy as the New Republic began to officially control worlds and the remaining Imperials broke into a maze of factions created another mess of currencies. Since no two governments considered the other legitimate, traders had to rely on commodities to make transactions. This lasted till the Pellaeon–Gavrisom Treaty brought peace between the New Republic and Imperial Remnant. In the times before the Republic went full retard in the Ruusan Reformation 1000 years before the Battle of Yavin, the system is pretty much the same as writers don't want to bother with numismatics. After the Pellaeon-Gavrisom Treaty the same policy is taken for the sake of convenience.

	====Money in Battletech====		====Money in [[Battletech]]====
	Battletech has an unusually developed currency system based on an actually reasonable scarce commodity. The universal currency is the C-bill, which is issued by ComStar and has a fixed value backing of exactly 1 millisecond of FTL data transmission over the ComStar network (enough to send a picture or a few pages of text). Since virtually everyone who wants to send data around must pay in C-bills, this makes it universally fungible. Still each individual state has their own set of currency and they each have their own exchange rate in C-bills.		Battletech has an unusually developed currency system based on an actually reasonable scarce commodity. The universal currency is the C-bill, which is issued by ComStar and has a fixed value backing of exactly 1 millisecond of FTL data transmission over the ComStar network (enough to send a picture or a few pages of text). Since virtually everyone who wants to send data around must pay in C-bills, this makes it universally fungible. Still each individual state has their own set of currency and they each have their own exchange rate in C-bills.

1d4chan>A Walrus at 05:23, 20 October 2022

2022-10-20T05:23:44Z

← Older revision		Revision as of 05:23, 20 October 2022
Line 10:		Line 10:
	Gold and silver in particular were attractive as they could both be worked easily, did not rust (in the conventional sense anyway), and appeared to exist in a fixed ratio to each other (17.5 silver to 1 gold on Earth, close-ish to the theoretical ratio from stellar sources). This made them good to use as a token that could be universally exchanged, but gold and silver are still heavy to lug around for transactions, while being all too easy to carry away by robbers.		Gold and silver in particular were attractive as they could both be worked easily, did not rust (in the conventional sense anyway), and appeared to exist in a fixed ratio to each other (17.5 silver to 1 gold on Earth, close-ish to the theoretical ratio from stellar sources). This made them good to use as a token that could be universally exchanged, but gold and silver are still heavy to lug around for transactions, while being all too easy to carry away by robbers.

	So what people settled on was trading their stuff for precious metals, and then storing those precious metals in a bank and trading notes around that represented precious metals. Of course, this had some teething problems, the earliest banks (and some recent ones) weren't very trustworthy. Eventually governments moved away from that as pinning currency values to metals (or even valuable mineral commodities like energy resources) was limiting to the money supply, and so they removed that connection and that's where we stand today. As a result, most currencies are based on national government promises to fulfill monetary bonds (aka IOU bills) in the hypothetical event some stockholders or retirement pensioners wants to cash out (though several at a time in a similar manner to players cashing out poker chips in the casino) as well as the "relative" strength of the target economy where stronger bills are useful for investments, imports, or savings while weaker bills are useful for buying raw materials, exports, or paying for cheap labor. TLDR, modern money has value basically because people believe it has value, and as long as that's the case we're okay. When it's not the case, the result is Venezuela, where the Bolivar is worth less than WoW gold. Some people are hyping up cryptocurrencies or digital currency as the future due to decentralization, resistance to forgery from blockchain encryption, unique digital signatures, or lack of paper, plastic, or metalworking. On the other hand, such things only work if you have digital infrastructure alongside a reliable power grid to keep it all chugging along, and of course people willing to take it as money. Plus, the whole crypto set-up has basically been a speculative thing from day one and has been extremely volatile compared to other traditional financially traded assets.		So what people settled on was trading their stuff for precious metals, and then storing those precious metals in a bank and trading notes around that represented precious metals. Of course, this had some teething problems, the earliest banks (and some recent ones) weren't very trustworthy. Eventually governments moved away from that as pinning currency values to metals (or even valuable mineral commodities like energy resources) was limiting to the money supply, and so they removed that connection and that's where we stand today. As a result, most currencies are based on national government promises to fulfill monetary bonds (aka IOU bills) in the hypothetical event some stockholders or retirement pensioners wants to cash out (though several at a time in a similar manner to players cashing out poker chips in the casino) as well as the "relative" strength of the target economy where stronger bills are useful for investments, imports, or savings while weaker bills are useful for buying raw materials, exports, or paying for cheap labor.

			TLDR, modern money has value basically because people believe it has value, and as long as that's the case we're okay. When it's not the case, the result is Venezuela, where the Bolivar is worth less than WoW gold. Some people are hyping up cryptocurrencies or digital currency as the future due to decentralization, resistance to forgery from blockchain encryption, unique digital signatures, or lack of paper, plastic, or metalworking. On the other hand, such things only work if you have digital infrastructure alongside a reliable power grid to keep it all chugging along, and of course people willing to take it as money. Plus, the whole crypto set-up has basically been a speculative thing from day one and has been extremely volatile compared to other traditional financially traded assets.

	==Money and /tg/==		==Money and /tg/==

2607:FB91:112E:643A:F130:B1D9:C796:9AAA: /* Money in Sci-fi settings */

2022-10-19T15:31:32Z

Money in Sci-fi settings

← Older revision		Revision as of 15:31, 19 October 2022
Line 41:		Line 41:
	In futuristic settings, money is usually just a single unit (typically called "credits") and largely operate on a digital level instead of people having to give a form of bank note or coin. In most sci-fi settings that include aliens with their own currency system, the proverbial credit is usually the standardized form of money people pay with that has a direct equivalent to their home system. Basically similar to what the European Union did with the [https://en.wikipedia.org/wiki/Euro Euro], but on a larger scale and somehow managing to go decades without a member state's financial issues fucking it up. Alternatively, you also have sci fi delve into commodity-based transactions like in Dune; ranging from the trade of melange spice (which is useful for life extension, prescient powers, or flat out space navigation) or in water if you’re on a scorched hell-hole like the Fremen on Arrakis.		In futuristic settings, money is usually just a single unit (typically called "credits") and largely operate on a digital level instead of people having to give a form of bank note or coin. In most sci-fi settings that include aliens with their own currency system, the proverbial credit is usually the standardized form of money people pay with that has a direct equivalent to their home system. Basically similar to what the European Union did with the [https://en.wikipedia.org/wiki/Euro Euro], but on a larger scale and somehow managing to go decades without a member state's financial issues fucking it up. Alternatively, you also have sci fi delve into commodity-based transactions like in Dune; ranging from the trade of melange spice (which is useful for life extension, prescient powers, or flat out space navigation) or in water if you’re on a scorched hell-hole like the Fremen on Arrakis.

	In a few science fiction societies such as the Federation from [[Star Trek]] and [[The Culture]] have done away with money, with economies which are so efficient that it is easy to provide fulfill material needs due to robots, replicators, fabrication machines and similar there is not really a reason to pay people to work so society just provides people with what they want/need for free with all work being voluntary. The problem of such a [[Wikipedia:Post-scarcity economy\|"post-scarcity" economy]] is that creativity (without dangerously intelligent AI), land/space (unless you build space-stations), entertainment, sexual gratification (without sexbots or the like), and attention will still be in finite supply. In less ideal situations often posited society gets dominated by megacorportations in which the working masses toil for scrip, coupons which can be redeemed at company stores for company products. This sort of thing did happen in the 19th century a lot as a way to keep the workers in line in company towns.		In a few science fiction societies such as the Federation from [[Star Trek]] and [[The Culture]] have done away with money, with economies which are so efficient that it is easy to provide fulfill material needs due to robots, replicators, fabrication machines and similar there is not really a reason to pay people to work so society just provides people with what they want/need for free with all work being voluntary. The problem of such a [[Wikipedia:Post-scarcity economy\|"post-scarcity" economy]] is that creativity (without dangerously intelligent AI), land/space (unless you build space-stations), entertainment, sexual gratification (without sexbots or the like), and attention will still be in finite supply while listlessness can make society break down per Dr Calhoun’s infamous Behavioral Sink experiment with rat colonies over-flooded with food. In less ideal situations often posited society gets dominated by megacorportations in which the working masses toil for scrip, coupons which can be redeemed at company stores for company products. This sort of thing did happen in the 19th century a lot as a way to keep the workers in line in company towns.

	====Money in 40k====		====Money in 40k====

2607:FB91:112E:643A:F130:B1D9:C796:9AAA: /* Money in games */

2022-10-19T15:28:19Z

Money in games

← Older revision		Revision as of 15:28, 19 October 2022
Line 22:		Line 22:
	Money is a common feature in many games. It's an idea you would naturally be familiar with, is a natural part of almost any complex agricultural society not designed by the dirtiest of hippies and is for providing incentive to players in story creation. On top of that is easy to express with a pen and paper. Your Paladin has acquired 50 Golden-Wombats so add fifty Golden-Wombats to their inventory, you subtract 30 Golden-Wombats from your inventory when you buy a new shield from a blacksmith and so forth.		Money is a common feature in many games. It's an idea you would naturally be familiar with, is a natural part of almost any complex agricultural society not designed by the dirtiest of hippies and is for providing incentive to players in story creation. On top of that is easy to express with a pen and paper. Your Paladin has acquired 50 Golden-Wombats so add fifty Golden-Wombats to their inventory, you subtract 30 Golden-Wombats from your inventory when you buy a new shield from a blacksmith and so forth.

	In settings where the system of currency has collapsed or is non-existent, like a post-apocalyptic world, money is often eliminated, forcing people to stick to bartering. Alternatively, a new "currency" based on a useful item develops, such as [[Fallout]] system where trade is conducted using the water standard (the Water Merchants will trade a fixed volume of clean water for a cap) backed bottlecaps, while [[wikipedia:Metro 2033\|Metro 2033]] universe has people trading in pre-war ammunition after Moscow's economy was obliterated in the setting's nuclear war. Gold, merely being pretty and useful for making electronics that can't be made anymore, rarely retains much value after the apocalypse (Silver~~, which~~ is useful for its anti-microrobial properties ~~and~~ making mirrors, would actually be more useful, but this is rarely touched upon).		In settings where the system of currency has collapsed or is non-existent, like a post-apocalyptic world, money is often eliminated, forcing people to stick to bartering. Alternatively, a new "currency" based on a useful item develops, such as [[Fallout]] system where trade is conducted using the water standard (the Water Merchants will trade a fixed volume of clean water for a cap) backed bottlecaps, while [[wikipedia:Metro 2033\|Metro 2033]] universe has people trading in pre-war ammunition after Moscow's economy was obliterated in the setting's nuclear war. Gold, merely being pretty and useful for making electronics that can't be made anymore, rarely retains much value after the apocalypse ([[Silver]] is useful for its anti-microrobial properties, making mirrors, and ability to react to simple arsenic/sulphur poisons. So it would actually be more useful, but this is rarely touched upon from game designers’ lack of general knowledge in social and chemical science).

	In setting like Path of Exiles, where the player is but an exile, rejected unto the cruel lawless continent of Wraeclast. The inhabitants there has an unique currency system where they trade useful magical orbs that can changes the properties of the weapons and armors. Each orbs has their own value based on their ability to either change or improve the properties of the gears, and this one orb "that can randomize a rare item's property" is worth to 10 of that orb, whose ability is to "randomize the property of a magical items" (similar to 1000$ > 100$ > 10$)		In setting like Path of Exiles, where the player is but an exile, rejected unto the cruel lawless continent of Wraeclast. The inhabitants there has an unique currency system where they trade useful magical orbs that can changes the properties of the weapons and armors. Each orbs has their own value based on their ability to either change or improve the properties of the gears, and this one orb "that can randomize a rare item's property" is worth to 10 of that orb, whose ability is to "randomize the property of a magical items" (similar to 1000$ > 100$ > 10$)

2607:FB91:112E:643A:F130:B1D9:C796:9AAA: /* A Brief History of Money */

2022-10-19T15:24:44Z

A Brief History of Money

← Older revision		Revision as of 15:24, 19 October 2022
Line 10:		Line 10:
	Gold and silver in particular were attractive as they could both be worked easily, did not rust (in the conventional sense anyway), and appeared to exist in a fixed ratio to each other (17.5 silver to 1 gold on Earth, close-ish to the theoretical ratio from stellar sources). This made them good to use as a token that could be universally exchanged, but gold and silver are still heavy to lug around for transactions, while being all too easy to carry away by robbers.		Gold and silver in particular were attractive as they could both be worked easily, did not rust (in the conventional sense anyway), and appeared to exist in a fixed ratio to each other (17.5 silver to 1 gold on Earth, close-ish to the theoretical ratio from stellar sources). This made them good to use as a token that could be universally exchanged, but gold and silver are still heavy to lug around for transactions, while being all too easy to carry away by robbers.

	So what people settled on was trading their stuff for precious metals, and then storing those precious metals in a bank and trading notes around that represented precious metals. Of course, this had some teething problems, the earliest banks (and some recent ones) weren't very trustworthy. Eventually governments moved away from that ~~that~~ pinning currency values to metals was limiting to the money supply, and so they removed that connection and that's where we stand today. As a result, most currencies are based on national government promises to fulfill monetary bonds (aka IOU bills) in the hypothetical event some stockholders or retirement pensioners wants to cash out (though several at a time in a similar manner to players cashing out poker chips in the casino) as well as the "relative" strength of the target economy where stronger bills are useful for investments, imports, or savings while weaker bills are useful for buying raw materials, exports, or paying for cheap labor. TLDR, modern money has value basically because people believe it has value, and as long as that's the case we're okay. When it's not the case, the result is Venezuela, where the Bolivar is worth less than WoW gold. Some people are hyping up cryptocurrencies or digital currency as the future due to decentralization, resistance to forgery from blockchain encryption, unique digital signatures, or lack of paper, plastic, or metalworking. On the other hand, such things only work if you have digital infrastructure alongside a reliable power grid to keep it all chugging along, and of course people willing to take it as money. Plus, the whole crypto set-up has basically been a speculative thing from day one and has been extremely volatile compared to other traditional financially traded assets.		So what people settled on was trading their stuff for precious metals, and then storing those precious metals in a bank and trading notes around that represented precious metals. Of course, this had some teething problems, the earliest banks (and some recent ones) weren't very trustworthy. Eventually governments moved away from that as pinning currency values to metals (or even valuable mineral commodities like energy resources) was limiting to the money supply, and so they removed that connection and that's where we stand today. As a result, most currencies are based on national government promises to fulfill monetary bonds (aka IOU bills) in the hypothetical event some stockholders or retirement pensioners wants to cash out (though several at a time in a similar manner to players cashing out poker chips in the casino) as well as the "relative" strength of the target economy where stronger bills are useful for investments, imports, or savings while weaker bills are useful for buying raw materials, exports, or paying for cheap labor. TLDR, modern money has value basically because people believe it has value, and as long as that's the case we're okay. When it's not the case, the result is Venezuela, where the Bolivar is worth less than WoW gold. Some people are hyping up cryptocurrencies or digital currency as the future due to decentralization, resistance to forgery from blockchain encryption, unique digital signatures, or lack of paper, plastic, or metalworking. On the other hand, such things only work if you have digital infrastructure alongside a reliable power grid to keep it all chugging along, and of course people willing to take it as money. Plus, the whole crypto set-up has basically been a speculative thing from day one and has been extremely volatile compared to other traditional financially traded assets.

	==Money and /tg/==		==Money and /tg/==

1d4chan>A Walrus: /* A Brief History of Money */

2022-10-19T06:32:43Z

A Brief History of Money

← Older revision		Revision as of 06:32, 19 October 2022
Line 10:		Line 10:
	Gold and silver in particular were attractive as they could both be worked easily, did not rust (in the conventional sense anyway), and appeared to exist in a fixed ratio to each other (17.5 silver to 1 gold on Earth, close-ish to the theoretical ratio from stellar sources). This made them good to use as a token that could be universally exchanged, but gold and silver are still heavy to lug around for transactions, while being all too easy to carry away by robbers.		Gold and silver in particular were attractive as they could both be worked easily, did not rust (in the conventional sense anyway), and appeared to exist in a fixed ratio to each other (17.5 silver to 1 gold on Earth, close-ish to the theoretical ratio from stellar sources). This made them good to use as a token that could be universally exchanged, but gold and silver are still heavy to lug around for transactions, while being all too easy to carry away by robbers.

	So what people settled on was trading their stuff for precious metals, and then storing those precious metals in a bank and trading notes around that represented precious metals. Of course, this had some teething problems, the earliest banks (and some recent ones) weren't very trustworthy. Eventually governments ~~got a bit greedy themselves and decided~~ that pinning currency values to metals was limiting ~~their ability~~ to ~~spend irresponsibly~~, and so they removed that connection and that's where we stand today. As a result, most currencies are based on national government promises to fulfill monetary bonds (aka IOU bills) in the hypothetical event some stockholders or retirement pensioners wants to cash out (though several at a time in a similar manner to players cashing out poker chips in the casino) as well as the "relative" strength of the target economy where stronger bills are useful for investments, imports, or savings while weaker bills are useful for buying raw materials, exports, or paying for cheap labor. TLDR, modern money has value basically because people believe it has value, and as long as that's the case we're okay. When it's not the case, the result is Venezuela, where the Bolivar is worth less than WoW gold. Some people are hyping up cryptocurrencies or digital currency as the future due to decentralization, resistance to forgery from blockchain encryption, unique digital signatures, or lack of paper, plastic, or metalworking. On the other hand, such things only work if you have digital infrastructure alongside a reliable power grid to keep it all chugging along, and of course people willing to take it as money. Plus, the whole crypto set-up has basically been a speculative thing from day one and has been extremely volatile compared to other traditional financially traded assets.		So what people settled on was trading their stuff for precious metals, and then storing those precious metals in a bank and trading notes around that represented precious metals. Of course, this had some teething problems, the earliest banks (and some recent ones) weren't very trustworthy. Eventually governments moved away from that that pinning currency values to metals was limiting to the money supply, and so they removed that connection and that's where we stand today. As a result, most currencies are based on national government promises to fulfill monetary bonds (aka IOU bills) in the hypothetical event some stockholders or retirement pensioners wants to cash out (though several at a time in a similar manner to players cashing out poker chips in the casino) as well as the "relative" strength of the target economy where stronger bills are useful for investments, imports, or savings while weaker bills are useful for buying raw materials, exports, or paying for cheap labor. TLDR, modern money has value basically because people believe it has value, and as long as that's the case we're okay. When it's not the case, the result is Venezuela, where the Bolivar is worth less than WoW gold. Some people are hyping up cryptocurrencies or digital currency as the future due to decentralization, resistance to forgery from blockchain encryption, unique digital signatures, or lack of paper, plastic, or metalworking. On the other hand, such things only work if you have digital infrastructure alongside a reliable power grid to keep it all chugging along, and of course people willing to take it as money. Plus, the whole crypto set-up has basically been a speculative thing from day one and has been extremely volatile compared to other traditional financially traded assets.

	==Money and /tg/==		==Money and /tg/==